Bicycle Therapeutics plc (BCYC) Stock Price & Analysis
Bicycle Therapeutics plc (BCYC) closed at USD 3.88 on Wednesday, October 28, 2026, up 2.65% on the day. The US market is currently closed; this is not a live price.
The prior close was USD 3.78; the Oct 28, 2026 session ranged USD 3.71–3.89 on volume of 436,241 shares. Market capitalization is $271.57M, with a 52-week range of USD 3.33–9.08 (NMS). Source: Nexqual, retrieved October 29, 2026 at 06:58 UTC.
Also available as compact Markdown for AI agents: nexqual.com/BCYC.md
Key facts (BCYC)
- Last four reported quarters (through Jun 30, 2026): revenue $61.2M, net income -$190M (-311.1% margin), free cash flow -$208M (SEC filings).
- Insider open-market sales, last ~7 months: 11 Form 4 filings, $123K; 9 not under a Rule 10b5-1 plan ($112K); 0 by opportunistic insiders, 6 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.11 on a 1–5 scale) (9 analysts), mean target USD 9.5 (range 5–14).
- Total return with dividends: 1Y -52.6% vs S&P 500 +13.6%; 5Y -92.5% vs S&P 500 +79.8%.
- Next earnings: 2026-10-29, EPS estimate USD -0.46, revenue estimate $12.2M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (BCYC)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $11.7M | $14.5M | $27.0M | $35.3M | $72.6M | $61.2M |
| Operating income | -$65.6M | -$117M | -$190M | -$210M | -$247M | -$210M |
| Net income | -$66.8M | -$113M | -$181M | -$169M | -$219M | -$190M |
| EPS (diluted) | -$2.67 | -$3.80 | -$5.08 | -$2.90 | -$3.16 | — |
| Free cash flow | -$16.8M | -$105M | -$63.6M | -$166M | -$252M | -$208M |
| Operating margin | -561.0% | -806.6% | -704.1% | -595.0% | -340.4% | -343.6% |
| Net margin | -571.2% | -779.3% | -669.7% | -479.2% | -301.7% | -311.1% |
| Revenue growth | +12.6% | +23.6% | +86.5% | +30.8% | +105.8% | — |
| Cash + short-term investments | $439M | $339M | $526M | $880M | $628M | — |
| Total debt | $29.9M | $30.3M | $30.7M | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (BCYC)
P/S 4.4x · P/B 0.5x · FCF yield -76.69% · Earnings yield -70.11%
Insider sales (SEC Form 4, open-market, last ~7 months) (BCYC)
2 of 11 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-02…2026-10-05 | Skynner Michael | CHIEF SCIENTIFIC OFFICER | 2,445 | $9K | 1.6% | No | Routine (sold in Jan & Apr & Jul & Oct each year 2023–2025) |
| 2026-10-02…2026-10-05 | Hannay Michael Charles Ferguson | CHIEF PROD & SUPPLY CHAIN OFF | 1,814 | $6K | 1.9% | No | Too little history (no open-market trades in 2023) |
| 2026-10-02…2026-10-05 | Perry Jennifer Scott | Chief Operating Officer | 1,500 | $5K | 1.6% | Yes (adopted March 27, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-10-02…2026-10-05 | Lee Kevin | CHIEF EXECUTIVE OFFICER | 7,805 | $27K | 1.3% | No | Routine (sold in Jan & Apr & Jul & Oct each year 2023–2025) |
| 2026-10-02…2026-10-05 | Thompson Travis Alvin | Chief Financial Officer | 972 | $3K | 1.5% | No | Routine (sold in Jul & Oct each year 2023–2025) |
| 2026-10-02 | Swanton Robert Charles | Director | 3,431 | $12K | 17.9% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-02…2026-07-06 | Perry Jennifer Scott | Chief Operating Officer | 1,412 | $6K | 1.5% | Yes (adopted March 27, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-07-02…2026-07-06 | Skynner Michael | CHIEF SCIENTIFIC OFFICER | 2,391 | $10K | 1.5% | No | Routine (sold in Jan & Apr & Jul & Oct each year 2023–2025) |
| 2026-07-02…2026-07-06 | Lee Kevin | CHIEF EXECUTIVE OFFICER | 7,642 | $33K | 1.3% | No | Routine (sold in Jan & Apr & Jul & Oct each year 2023–2025) |
| 2026-07-02…2026-07-06 | Hannay Michael Charles Ferguson | CHIEF PROD & SUPPLY CHAIN OFF | 1,761 | $8K | 1.8% | No | Too little history (no open-market trades in 2023) |
| 2026-07-02…2026-07-06 | Thompson Travis Alvin | Chief Financial Officer | 923 | $4K | 1.4% | No | Routine (sold in Jul & Oct each year 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (BCYC)
Consensus Buy (mean 2.11 on a 1–5 scale), 9 analysts; mean target USD 9.5 (low 5, high 14).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-30 | Needham | Target lowered | Buy | $15 → $14 |
Total return (dividends reinvested) (BCYC)
| 1Y (from 2025-10-29) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | -52.6% | -92.5% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | -52.7% | -40.3% |
| Volatility (annualized) | 53.2% | 64.5% |
| Max drawdown | -61.4% (Oct 2025→Oct 2026) | -94.5% (Dec 2021→Sep 2026) |
BCYC earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Jul 30, 2026 | Quarter ended Jun 30, 2026 | −$0.72 | −$0.58 | Miss −24.1% | +0.0% |
| Apr 30, 2026 | Quarter ended Mar 31, 2026 | −$0.87 | −$0.65 | Miss −33.8% | +1.5% |
| Mar 17, 2026 | Quarter ended Dec 31, 2025 | −$0.29 | −$0.95 | Beat +69.5% | -6.9% |
| Oct 30, 2025 | Quarter ended Sep 30, 2025 | −$0.85 | −$1.07 | Beat +20.6% | -1.3% |
| Aug 8, 2025 | — | — | — | — | +0.0% |
| May 1, 2025 | — | — | — | — | +8.6% |
| Feb 25, 2025 | — | — | — | — | +0.6% |
| Oct 31, 2024 | — | — | — | — | -5.5% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
BCYC recent SEC filings (last 120 days)
| Filed | Form | What it says |
|---|---|---|
| Aug 20, 2026 | 8-K | Director or executive officer change, or pay arrangement “On August 18, 2026, Charles Swanton resigned as a Class II director of the Board of Directors (the "Board") of Bicycle Therapeutics plc (the "Company"), as a member of the Board's committees and as a member of the Company's Clinical Advisory Board, effective immediately. Dr. Swanton's resignation was for personal reasons and not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.” |
| Aug 14, 2026 | Schedule 13G/A | Armistice Capital, LLC, Steven Boyd: 6.7% of shares, passive 5%+ holder (amended) |
| Jul 30, 2026 | 10-Q | Quarterly report · period ended Jun 30, 2026 |
| Jul 30, 2026 | 8-K | Quarterly results |
Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.
BCYC suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | IONIS PHARMACEUTICALS INC (IONS) | “On July 9, 2021, we and Ionis entered into a collaboration and license agreement, or the Ionis Collaboration Agreement.” |
| Partner | Bayer Consumer Care | “On May 4, 2023, we entered into a collaboration and license agreement with Bayer Consumer Care AG, or Bayer, pursuant to which we and Bayer will perform research and discovery activities under a mutually agreed upon research plan during a research term up to a specified number of years per target program to generate radiopharmaceutical compounds incorporating optimized Bicycle constructs directed to two specified …” |
| Partner | Novartis Pharma | “Our revenue to date has been primarily generated from our current and former research collaborations with Bayer Consumer Care AG, or Bayer, Novartis Pharma AG, or Novartis, Ionis Pharmaceuticals, Inc., or Ionis, and Genentech Inc., or Genentech.” |
| Partner | Hercules Capital, Inc. (HTGC) | “To date, we have financed our operations primarily with proceeds from the sale of our equity securities; proceeds received from upfront payments, research and development payments, and development milestone payments from our collaboration agreements; and borrowings pursuant to a loan and security agreement, or the Loan Agreement, with Hercules Capital, Inc., or Hercules.” |
| Partner | Genentech | “Our revenue to date has been primarily generated from our current and former research collaborations with Bayer Consumer Care AG, or Bayer, Novartis Pharma AG, or Novartis, Ionis Pharmaceuticals, Inc., or Ionis, and Genentech Inc., or Genentech.” |
| Partner | Cancer Research Technology | “In December 2016, we entered into a Clinical Trial and License Agreement with Cancer Research Technology Limited, or CRTL and Cancer Research UK, or the BT1718 Cancer Research UK Agreement, pursuant to which the Cancer Research UK Centre for Drug Development sponsored and funded a Phase I/IIa clinical trial for our previous product candidate, BT1718, in patients with advanced solid tumors.” |
Quoted from the company's 10-K filed Mar 17, 2026.
BCYC company outlook (results filed Jul 30, 2026)
- “Bicycle Therapeutics continues to advance its emerging radioligand pipeline, with the initiation of the first company-sponsored radioligand clinical trial for BT1702, an MT1-MMP targeting BRC, expected in 2027. ·”
Quoted word-for-word from the SEC 8-K results press release.
BCYC analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.46 | $-0.52 | +$0.06 | $12.2M | 8 |
| Next quarter (ends Dec 2026) | $-0.41 | $-0.38 | −$0.03 | $1.6M | 8 |
| Current fiscal year (ends Dec 2026) | $-2.45 | $-2.32 | −$0.13 | $17.5M | 8 |
| Next fiscal year (ends Dec 2027) | $-2.21 | $-2.19 | −$0.02 | $6.7M | 8 |
BCYC options: expected move
Options price a move of about ±23.7% (±$0.92) by Nov 20, 2026, which includes earnings on Oct 29, 2026. Over the last 8 reports the stock moved ±3.1% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 23 | 39.2% | ±23.7% |
| Dec 18, 2026 | 51 | 71.5% | ±15.5% |
| Mar 19, 2027 | 142 | 83.2% | ±62.5% |
30-day implied volatility 59.2% vs 67% realized over the last 30 trading days. Put/call ratio (volume) 0.33. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 29, 2026 at 06:58 UTC)
| Price | USD 3.88 |
|---|---|
| Change | ▲ 2.65% (up) |
| Previous Close | USD 3.78 |
| Open | USD 3.76 |
| Day Range | USD 3.71 – 3.89 |
| 52-Week Range | USD 3.33 – 9.08 |
| Volume | 436,241 shares |
| Market Cap | $271.57M |
| Exchange | NMS |
Technical Analysis (BCYC)
Nexqual's technical model rates BCYC "BUY" based on 4 bullish and 2 bearish signals across 127 daily candles, as of October 29, 2026 at 06:58 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 56.27 (neutral) |
| vs SMA50 | Above (USD 3.85) |
| MACD | -0.03 (negative) |
Analyst Ratings (BCYC)
Wall Street analysts rate BCYC "Buy" based on 9 analysts, with a mean price target of USD 9.5 (range USD 5–14), per Nexqual as of October 29, 2026 at 06:58 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 9 |
| Mean Target | USD 9.5 |
| High Target | USD 14 |
| Low Target | USD 5 |
| Buy / Hold / Sell | 6 / 3 / 0 |
Earnings (BCYC)
| Next Earnings Date | 2026-10-29 |
|---|---|
| EPS Estimate | USD -0.46 |
| Revenue Estimate | $12.20M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.72 vs est -0.58 ▼ miss |
| 2026-03-31 | USD -0.87 vs est -0.65 ▼ miss |
| 2025-12-31 | USD -0.29 vs est -0.95 ▲ beat |
| 2025-09-30 | USD -0.85 vs est -1.07 ▲ beat |
Source: Nexqual, October 29, 2026 at 06:58 UTC.
Financials & Fundamentals (BCYC)
| Total Revenue | $61.20M |
|---|---|
| Revenue Growth (latest quarter, YoY) | -78.50% |
| Gross Margin | -208.89% |
| Operating Margin | -8673.93% |
| Profit Margin | +0.00% |
| ROE | -32.30% |
| Debt / Equity | 0.03 |
| Current Ratio | 12.08 |
| Total Cash | $510.05M |
| Total Debt | $14.66M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | -$208.28M (-340.3% of revenue) |
Source: Nexqual, October 29, 2026 at 06:58 UTC.
Financial Health Score (BCYC)
Nexqual rates Bicycle Therapeutics plc's overall financial health "Mixed" across five dimensions, as of October 29, 2026 at 06:58 UTC.
| Growth | Strong — Revenue +106% YoY (annual) |
|---|---|
| Profitability | Critical — Heavily loss-making — early-stage company |
| Balance Sheet | Strong — $510M cash vs $15M debt, net cash position |
| Cash Flow | Weak — FCF negative: -$208M (last 4 quarters to Jun 2026, SEC), burning cash |
| Efficiency | Critical — ROE -37%, ROA -31.4% (last 4 quarters, SEC) |
Ownership (BCYC)
| Insider Ownership | +4.59% |
|---|---|
| Institutional Ownership | +71.68% |
| Shares Outstanding | 50.55M |
| Float | 7.76M |
| Short % of Float | +8.84% |
Source: Nexqual, October 29, 2026 at 06:58 UTC.
Leadership (BCYC)
Bicycle Therapeutics plc is led by Kevin Lee, CEO & Executive Director, per Nexqual as of October 29, 2026 at 06:58 UTC.
| CEO & Executive Director | Kevin Lee |
|---|---|
| Chief Scientific Officer | Michael Skynner B.sc. |
| Chief Financial Officer | Travis Thompson |
| Chief Operating Officer | Jennifer Perry Pharm.D. |
| Senior Vice President of Investor Relations and Corporate Communications | Stephanie Yao |
Major Backers & Investors (BCYC)
Notable institutional backers of Bicycle Therapeutics plc include Baker Bros. Advisors, LP, FCPM III Services B.V., Armistice Capital, LLC, according to Nexqual as of October 29, 2026 at 06:58 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Baker Bros. Advisors, LP | 21.53% |
| FCPM III Services B.V. | 6.86% |
| Armistice Capital, LLC | 6.72% |
| Long Focus Capital Management, LLC | 6.55% |
| Acadian Asset Management. LLC | 3.89% |
| Renaissance Technologies | 3.03% |
| GSK plc | 3.03% |
| Price (T.Rowe) Associates Inc | 1.78% |
Source: Nexqual, October 29, 2026 at 06:58 UTC.
From Bicycle Therapeutics plc's Latest SEC 10-K Filing (filed 2026-03-17)
Key Strengths & Strategy (as disclosed to the SEC)
- To overcome these challenges, we have established arrangements with leading isotope suppliers and manufacturers for a potentially world-leading end-to-end and sustainable radioisotope supply chain.
- We strive to protect and enhance the proprietary technology, inventions, and improvements that are commercially important to the development of our business, including our Bicycle platform.
- For example, we file U.S. and certain foreign patent applications related to our proprietary technology, inventions and improvements that are important to the development of our business.
- Beyond our wholly owned oncology portfolio, we are collaborating with biopharmaceutical companies and organizations in additional therapeutic areas in which we believe our proprietary Bicycle screening platform can identify therapies to treat diseases with significant unmet medical need.
Partnerships
- For instance, we have established an agreement with Eckert & Ziegler, a leading isotope technology company, to supply a range of radioisotopes and develop and manufacture BRC and BIA molecules.
- On May 4, 2023, we entered into a collaboration and license agreement with Bayer Consumer Care AG, or Bayer, pursuant to which we and Bayer will perform research and discovery activities under a mutually agreed upon research plan during a research term up to a specified number of years per target program to generate radiopharmaceutical compounds incorporating optimized Bicycle constructs directed to two specified targets, under the oversight of a joint research committee.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| ORKA | Oruka Therapeutics, Inc. | USD 95.97 | ▲ 0.17% |
| LGND | Ligand Pharmaceuticals Incorpor | USD 318.78 | ▲ 2.26% |
| IOVA | Iovance Biotherapeutics, Inc. | USD 14.81 | ▲ 1.58% |
| IONS | Ionis Pharmaceuticals, Inc. | USD 44.9 | ▲ 2.14% |
| AXSM | Axsome Therapeutics, Inc. | USD 143.51 | ▲ 0.92% |
| ABVX | Abivax SA | USD 89.84 | ▲ 3.26% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 29, 2026 at 06:58 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt